Firstsun Capital Bancorp (NASDAQ:FSUN) Shares Gap Up Following Insider Buying Activity

Firstsun Capital Bancorp (NASDAQ:FSUN)’s stock price gapped up before the market opened on Thursday following insider buying activity. The stock had previously closed at $37.94, but opened at $39.22. Firstsun Capital Bancorp shares last traded at $38.77, with a volume of 18,100 shares traded.

Specifically, insider Mollie H. Carter purchased 1,025,450 shares of Firstsun Capital Bancorp stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average price of $37.06 per share, for a total transaction of $38,003,177.00. Following the completion of the transaction, the insider now owns 666,500 shares of the company’s stock, valued at approximately $24,700,490. This trade represents a -285.68 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

Analyst Upgrades and Downgrades

FSUN has been the topic of a number of research reports. Raymond James raised shares of Firstsun Capital Bancorp from a “market perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a research report on Tuesday, November 19th. Piper Sandler assumed coverage on Firstsun Capital Bancorp in a report on Friday, February 21st. They issued an “overweight” rating and a $51.00 price objective for the company. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $47.00 target price (up previously from $46.00) on shares of Firstsun Capital Bancorp in a research note on Monday, February 3rd.

Firstsun Capital Bancorp Trading Up 1.0 %

The firm has a 50-day moving average price of $40.26 and a two-hundred day moving average price of $40.18. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.02 and a current ratio of 1.03.

Firstsun Capital Bancorp (NASDAQ:FSUN) last announced its quarterly earnings data on Monday, January 27th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. Firstsun Capital Bancorp had a return on equity of 8.56% and a net margin of 13.77%. Equities analysts forecast that Firstsun Capital Bancorp will post 3.6 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FSUN. Wellington Management Group LLP boosted its holdings in Firstsun Capital Bancorp by 8.6% in the fourth quarter. Wellington Management Group LLP now owns 2,626,167 shares of the company’s stock worth $105,178,000 after purchasing an additional 207,774 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Firstsun Capital Bancorp in the 3rd quarter worth about $42,772,000. Vanguard Group Inc. boosted its stake in shares of Firstsun Capital Bancorp by 12.0% during the 4th quarter. Vanguard Group Inc. now owns 534,193 shares of the company’s stock valued at $21,394,000 after buying an additional 57,058 shares during the period. Stieven Capital Advisors L.P. bought a new stake in Firstsun Capital Bancorp in the fourth quarter worth approximately $18,743,000. Finally, Fourthstone LLC bought a new position in shares of Firstsun Capital Bancorp in the third quarter valued at approximately $13,846,000.

About Firstsun Capital Bancorp

FirstSun Capital Bancorp engages in the provision of commercial banking services. It operates through the following segments: Banking, Mortgage Operations, and Corporate. The Banking segment consists of loans and provides deposits and fee-based services to consumer, business, and mortgage lending customers.